Thursday, June 14, 2007 9:57:29 AM
Luna Innovations Signs Multi-Year Development and Supply Agreement with Intuitive Surgical
Luna’s Sensing Technology to be Integrated into Intuitive’s Surgical Products
Luna Innovations Incorporated (NASDAQ:LUNA) announced today that it has entered into an IP licensing, development, and supply agreement with Intuitive Surgical, Inc. (NASDAQ: ISRG), the global technology leader in robotic-assisted minimally invasive surgery (MIS). Under the terms of the multi-year agreement, Luna will develop and supply its fiber optic-based shape sensing and position tracking system for integration into Intuitive Surgical’s products, which includes the da Vinci® Surgical System.
“This agreement with Intuitive Surgical expands our presence within the medical devices market and further demonstrates the strength of our business model focused on the commercialization of our proprietary technologies and intellectual property. Our technology, partnered with the world leader in medical robotics, will help surgeons precisely guide and control surgical tools during robotically assisted procedures,” stated Kent Murphy, Luna’s Chairman and Chief Executive Officer. “It’s truly rewarding to know that Luna’s technology will be assisting in complex minimally invasive surgery helping to ensure the best outcome for patients.”
“We view Luna as the clear technology leader in the area of advanced shape sensing and position tracking systems” said Gary Guthart, Intuitive’s Chief Operating Officer. “We look forward to working closely with Luna on the integration of our two technologies.”
Luna’s shape sensing and position tracking system promises to provide real-time position measurements to help surgeons navigate through the body. The system consists of software, instrumentation and disposable optical sensing fiber. Luna’s technology, originally developed at NASA and recognized as having use in medical applications since early 2005, is unique and designed to provide the user with an accurate, direct and continuous measurement of device location with no adverse effect from line of sight limitations and without introducing electrical signals or radiation into the body.
About Luna Innovations:
Luna Innovations Incorporated develops and manufactures new-generation products for the healthcare, telecommunications, energy and defense markets. Luna’s products are used to measure, monitor, protect, and improve critical processes in the markets they serve. Through its disciplined commercialization business model, Luna has become a recognized leader in transitioning science to solutions. Luna is headquartered in Roanoke, Virginia.
Forward Looking Statements:
This release includes information that constitutes “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements regarding (i) whether Luna will successfully develop and supply its fiber optic-based position tracking system for integration into the next generation of Intuitive Surgical’s MIS products, and (ii) whether Luna’s technology will allow surgeons to precisely guide and control surgical tools during robotically assisted procedures. Actual results may differ materially from the expectations expressed in such forward-looking statements as a result of various factors, including (a) the scope and strength of Luna’s intellectual property underlying Luna’s technology that supports the Supply and Development Agreement, (b) Luna’s ability to perform its obligations under the Supply and Development Agreement, (c) the extent to which Intuitive Surgical utilizes Luna’s services under the Supply and Development Agreement, and (d) other underlying risks and uncertainties set forth in the company’s periodic reports and other filings with the Securities and Exchange Commission. Such filings are available at the SEC’s website at http://www.sec.gov, and at the company’s website at http://www.lunainnovations.com. The statements made in this release are based on information available to the company as of the date of this release and Luna Innovations undertakes no obligation to update any of the forward-looking statements after the date of this release.
Luna Innovations Incorporated
Media Contact: Karin Clark, 540-769-8400;
kclark@lunainnovations.com
or
Qorvis Communications
Investor Contact: Sally Beerbower, 703-744-7800
ir@lunainnovations.com
Recent LUNA News
- Luna Innovations Announces Receipt of Nasdaq Staff Determination Letter • Business Wire • 10/07/2024 08:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/03/2024 09:23:32 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/26/2024 09:08:09 PM
- Luna Innovations Announces Receipt of Additional Notice from Nasdaq Regarding Late Filing of Quarterly Report on Form 10-Q • Business Wire • 08/26/2024 09:00:00 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 08/12/2024 10:08:13 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 08/12/2024 08:56:57 PM
- Luna Announces Appointment of Kevin Ilcisin as CEO, Retirement of Richard Roedel and $15 Million Credit Facility from White Hat Capital Partners • Business Wire • 07/23/2024 09:36:00 PM
- Form SC 13D/A - General Statement of Acquisition of Beneficial Ownership: [Amend] • Edgar (US Regulatory) • 07/23/2024 09:30:16 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/23/2024 09:21:14 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/18/2024 09:17:48 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/17/2024 08:56:52 PM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/30/2024 07:48:29 PM
- The Gross Law Firm Notifies Luna Innovations Incorporated Investors of a Class Action Lawsuit and Upcoming Deadline - LUNA • PR Newswire (US) • 05/29/2024 09:45:00 AM
- Luna Innovations Announces Receipt of Notice from Nasdaq Regarding Late Filing of Quarterly Report on Form 10-Q • Business Wire • 05/21/2024 09:20:00 PM
- Shareholders that lost money on Luna Innovations Incorporated (LUNA) Urged to Join Class Action - Contact The Gross Law Firm to Learn More • PR Newswire (US) • 05/21/2024 09:45:00 AM
- Class Action Filed Against Luna Innovations Incorporated (LUNA) Seeking Recovery for Investors - Contact The Gross Law Firm • PR Newswire (US) • 05/14/2024 09:45:00 AM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 05/13/2024 09:14:23 PM
- Luna Innovations Incorporated Securities Fraud Class Action Lawsuit Pending: Contact The Gross Law Firm Before May 31, 2024 to Discuss Your Rights - LUNA • PR Newswire (US) • 05/07/2024 09:45:00 AM
- Luna Innovations Announces Inducement Grants Under NASDAQ Listing Rule 5635(C)(4) • Business Wire • 05/03/2024 01:20:00 PM
- The Gross Law Firm Reminds Luna Innovations Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of May 31, 2024 - LUNA • PR Newswire (US) • 05/03/2024 09:45:00 AM
- Luna Innovations Appoints New Senior Leadership Across Sales and Product Marketing • Business Wire • 05/02/2024 01:20:00 PM
- Luna Innovations Retains Industry Veterans to Lead Strategy, Operations and Finance • Business Wire • 05/01/2024 09:05:00 PM
- Investors in Luna Innovations Incorporated Should Contact The Gross Law Firm Before May 31, 2024 to Discuss Your Rights - LUNA • PR Newswire (US) • 04/26/2024 09:45:00 AM
- Luna Innovations Announces Restatement of Financial Statements • Business Wire • 04/19/2024 12:30:00 PM
FEATURED ZenaTech, Inc. (NASDAQ: ZENA) Launchs IQ Nano Drone for Commercial Indoor Use • Oct 10, 2024 8:09 AM
FEATURED CBD Life Sciences Inc. (CBDL) Targets Alibaba as the Next Retail Giant for Wholesale Expansion of Top-Selling CBD Products • Oct 10, 2024 8:00 AM
Foremost Lithium Announces Option Agreement with Denison on 10 Uranium Projects Spanning over 330,000 Acres in the Athabasca Basin, Saskatchewan • FAT • Oct 10, 2024 5:51 AM
Element79 Gold Corp. Reports Significant Progress in Community Relations and Development Efforts in Chachas, Peru • ELEM • Oct 9, 2024 10:30 AM
Unitronix Corp Launches Share Buyback Initiative • UTRX • Oct 9, 2024 9:10 AM
BASANITE INDUSTRIES, LLC RECEIVES U.S. PATENT FOR ITS BASAFLEX™ BASALT FIBER COMPOSITE REBAR AND METHOD OF MANUFACTURING • BASA • Oct 9, 2024 7:30 AM